In short, I do not write for mathematicians, nor as a mathematician, but as an economist wishing to convince other economists that their science can only be satisfactorily treated on an explicitly mathematical basis.
Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.
As there are so many who talk prose without knowing it, or, again, who syllogize without having the least idea what a syllogism is, so economists have long been mathematicians without being aware of the fact.
The conclusion to which I am ever more clearly coming is that the only hope of attaining a true system of economics is to fling aside,once and forever, the mazy and preposterous assumptions of the Ricardian school. Our English economists have been living in a fool's paradise. The truth is with the French school, and the sooner we recognize the fact, the better it will be for all the world, except perhaps the few writers who are far too committed to the old erroneous doctrines to allow for renunciation.
My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more minute attention on a subject which doubtless furnishes the true key to the problems of economics.
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